From breaking through the impossible triangle to creating a compliant financial public chain inventory, the Algorand ecosystem is facing difficulties

September 7, encryption world ushered in an important milestone: Bitcoin became legal tender in El Salvador, which means that El Salvador became the world’s first country gives legal status of encryption currency. On August 31, a week ago, the Salvadoran government just signed an agreement with Koibanx , a Latin American blockchain asset tokenization and financial infrastructure company , to cooperate in the development of blockchain infrastructure, which will be based on the Algorand district. Blockchain for development.

At the moment when thousands of sails compete on the public chain track, what exactly does Algorand rely on to “stand out”?

In terms of technology , Algorand has made targeted optimizations for the “impossible triangle” (decentralization, scalability, security) of the blockchain . In terms of scalability, Algorand uses a verifiable random function (VRF) to randomly select the producers and verifiers of the block. Once they learn that they are selected, the producers and verifiers only need to broadcast a short message to prove their identity. The messages that need to be exchanged in the network each time a new block is generated will not change as the number of users increases, so even if the user scale increases, the system can still maintain a high TPS (transactions processed per second) . Algorand’s TPS is 125 times that of Bitcoin .

In terms of security , since the above-mentioned VRF is used to randomly select producers and verifiers, and the selection process is completely completed by the nodes independently, attackers in the Algorand network cannot know the next block producer and verifier in advance. It will not be able to complete the attack. Specifically, the identities of producers and verifiers will only be disclosed when they are sure that they are selected and broadcast the corresponding proof information. At this time, even if the attacker immediately adopts various attack methods, it will not be able to prevent the correctness of the new block. The spread of news on the network.

In terms of decentralization, each round of block producers and validators in Algorand are randomly selected, and there is no threshold for joining the network, so it is completely decentralized .

Algorand’s self-positioning is to build a “compliant financial public chain.” In addition, Algorand has also been committed to assisting the traditional financial industry in business transformation and helping blockchain technology expand outward. Generally speaking, compliance is the first consideration for governments and large financial institutions before adopting a certain blockchain technology, because compliance usually guarantees security, and compliance is just an innate label of Algorand ( Obtained a certificate of compliance with Sharia law; became one of the first public chains to join the “BSN Open Consortium Chain Project”; became a member of the International Mutual Credit and Derivatives Association “ISDA”, etc.) .

We sorted out the key projects of the Algorand ecosystem and found that most of the projects are related to finance , including decentralized finance (DeFi), including DEX, lending, digital securities, and physical assets on the chain, etc. There are also many traditional financial institutions that use the Algorand zone. The blockchain is undergoing business transformation. In addition, Algorand also cooperates extensively with governments, environmental protection agencies, etc., using blockchain technology to help them better carry out their business.

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DeFi

DEX

Tinyman(https://tinyman.org/)

Tinyman is a decentralized exchange. Through the community-centric, cheap, fast and completely permissionless Tinyman protocol, users can trade any Algorand standard asset (or Algo) through the liquidity pool using the automatic market maker (AMM) algorithm . .

Algodex(https://about.algodex.com/)

Algodex is a highly decentralized exchange, and the order book is entirely on the Algorand blockchain.

IDEX(https://idex.io/)

IDEX is a decentralized hybrid liquidity DEX (adopting the order book and AMM hybrid mechanism) , which supports limit orders and market orders, and can complete multiple transactions at once.

Borrow

Genesis (https://genesistrading.com/)

Genesis Global Capital, LLC is part of the Genesis Group, a full-service digital currency prime broker, providing a single point of access for selected qualified individuals and global institutional investors. The company provides complex market participants with a fully integrated platform for trading, lending, and custody of digital assets, creating new opportunities for revenue and improving capital efficiency for transaction parties.

Algofi(https://www.algofi.org/)

Algofi is a fast and low-cost cryptocurrency lending market on the Algorand blockchain.

Folks Finance(https://folks.finance/)

Folks Finance is a capital market agreement for borrowing and lending based on the Algorand blockchain.

Digital Securities

Securitize(https://securitize.io/)

Securitize provides reliable and compliant digital securities creation solutions for global enterprises. Securitize compliance platform and protocol for the issuance and management of digital Securities (card coupons tokens) provides sophisticated full-stack solutions.

Stonize (https://stonize.com/)

Stonize is an Italian financial technology company whose end-to-end platform can simplify the issuance, management and transfer of compliant digital securities.

Archax(https://www.archax.com/)

Archax is a digital stock exchange authorized by the FCA, providing digital securities trading, VASP (virtual asset service provider) , brokerage, custody and other services. Archax aims to enable institutional investors to have a scalable, high-performance exchange to trade digital securities.

Physical assets on the chain

Vesta Equity(www.vestaequity.net)

Vesta Equity combines real estate tokenization with smart contracts, enabling homeowners to sell some of their houses to investors while retaining their residency rights.

AssetBlock(https://www.assetblock.com/)

AssetBlock focuses on real estate tokenization and provides investment opportunities for high-quality real estate. At the same time, through real estate tokenization, the threshold for real estate investment can be lowered.

QuantmRE (https://www.quantmre.com/ebook)

QuantmRE enables homeowners to obtain a sum of cash in exchange for part of the current and potential future value of their house without assuming any additional debt (no loan, no interest, no monthly payment) .

other

Yieldly(https://yieldly.finance/)

Yieldly is a DeFi interconnection platform developed on Algorand, which provides products such as cross-chain token exchange, multi-asset pledge, and prize-winning games.

Republic(https://republic.co/)

Republic is a private investment platform and technology service provider composed of many operating entities, allowing anyone to invest in early-stage companies. The platform has more than 500,000 users and a minimum investment of US$10. At present, the Republic platform has more than 100 million US dollars in user investment, and the financing success rate is over 90%.

ARCC(https://arcc.one/)

ARCC.one is a small and micro financial platform with its own token ARCC. Users can obtain ARCC by filling out a questionnaire. The company aims to break the cycle of poverty, exploitation and wealth gap in emerging markets through the decentralized network effect of blockchain.

Month (https://testnet.mese.io/)

MESE. io is a micro-stock exchange that mainly provides synthetic asset trading of securities such as Google, Twitter, Tesla, Microsoft, etc. (each share is divided into 10,000 shares for investors to invest) . Currently this agreement is still in the testing phase.

Cudo(https://www.cudos.org/)

Cudo is a decentralized cloud computing network that creates a distributed computing platform that enables enterprises and individuals to use the computing power of the underutilized device network to expand their business processes. The CUDOS Verifier Network (CVN) provides blockchain developers with the opportunity to access highly scalable computing resources, and its cost is only a small part of the cost required to run on the layer 1 protocol, for many applications of these developers Eliminates scalability issues.

Monerium https://monerium.com/)

Monerium was founded by the former governor of the Central Bank of Iceland. It is a company that develops and uses blockchain technology to realize the electronic transaction of legal currency. Its ultimate goal is to issue an asset-backed, convertible, and regulated electronic currency.

Real (https://realio.fund/)

The Realio platform is an end-to-end, blockchain-based SaaS platform for the issuance, investment and life cycle management of digital assets.

Stablecoin

Circle(https://www.circle.com/en/)

Circle is a global financial technology company that enables companies of all sizes to use stablecoins and public blockchains to make global payments and expand commercial and financial applications. Circle’s USDC is the world’s fastest-growing fully-reserve stablecoin, with a circulation of 2.3 billion.

Tether(https://tether.to/)

Tether uses blockchain technology to allow users to store, send, and receive stablecoins. This allows investors to take advantage of the speed and security of digital assets while maintaining the daily utility of fiat currencies. In terms of trading volume, USDT is the most widely traded cryptocurrency and has the third largest market capitalization among all cryptocurrencies.

e-Money (https://e-money.com/)

e-Money is the issuer of the stable coin NGM.

Marshall Islands

The Republic of the Marshall Islands is the first country to adopt a national digital currency. The development of its national digital currency SOV utilizes Algorand’s technology.

Meld Gold(https://meld.gold/)

Meld Gold is an Australian start-up company that tokenizes gold, allowing investors and consumers to trade both physical gold and digital tokens representing precious metals.

Stablecorp(https://www.stablecorp.ca/)

Stablecorp is a joint venture between Canada’s largest crypto asset management company 3iQ and blockchain development leader Mavennet Systems. The company is behind the issuance of QCAD, which is the first fully compliant Canadian dollar stablecoin designed for the mass market.

NFT

SIAE (https://www.siae.it/en)

SIAE (Association of Italian Authors and Publishers) was established in Milan in 1882. It is a member base for public economic institutions and copyright management, and ranks sixth in the world’s ranking of collection companies. SIAE uses Algorand to develop an open ecosystem for copyright management. Currently, it has launched more than 4 million NFTs, helping more than 100,000 creators obtain copyright revenue.

AB2.Gallery(https://ab2.gallery/)

AB2.Gallery is a decentralized market for encrypted art assets on the Algorand blockchain.

Opulous(https://opulous.org/)

Opulous is a P2P financing platform that helps music artists get financing directly by bypassing traditional institutions such as banks.

ZestBloom(https://www.zestbloom.io/)

ZestBloom is an NFT platform built on the Algorand blockchain.

ANote Music (https://anotemusic.com/)

ANote Music enables publishers, record companies and artists to sell music rights, introduce a new financing system, and provide users with a new investment opportunity and the opportunity to own shares in promising artists.

Gaming

Smile Coin(https://smilecoin.us/)

Smile Coin is a decentralized game combination and payment processing platform. Users can view, manage, and track their game activities on an open blockchain to achieve the decentralization of game activities. Smile Coin was originally deployed on Ethereum, but due to scalability and performance, it was migrated to Algorand.

DRL(https://thedroneracingleague.com/)

DRL (Drone Racing League) is a company that organizes competitions for drones. The drones are small in size and equipped with cameras. Through head-mounted devices, users and drone operators can feel The vision of man and machine. DRL uses Algorand to help fans conduct transactions, issue NFTs, and so on.

OTOY(https://home.otoy.com/)

OTOY is a cloud computing graphics company. Its rendering network can use RNDR tokens to convert GPU computing power into a decentralized economic network that connects 3D assets.

RHOVIT (https://twitter.com/rhovit?lang=en)

RHOVIT is a GameFi content platform that helps content creators monetize their content. (Risk warning: the project website cannot be opened, and the official Twitter is also inactive) .

Exchange

Binance (https://www.binance.com/en)

Binance is a cryptocurrency exchange. In terms of the daily trading volume of cryptocurrencies, it is currently the largest exchange in the world. It was established in 2017 and registered in the Cayman Islands.

Coinbase(https://www.coinbase.com/)

Established in 2012, a compliance exchange listed on the Nasdaq in the United States.

Bithumb (https://en.bithumb.com/

Bithumb is a cryptocurrency exchange established in South Korea in 2014.

FTX (https://ftx.com/en)

FTX is a cryptocurrency derivatives exchange, established in 2019, with its own token FTT.

Infrastructure and tools

wallet

Ledger (https://www.ledger.com/)

Ledger’s main products are hardware wallets, including Ledger Nano X and Ledger Nano S. The Ledger hardware wallet integrates a certified chip, which can resist complex attacks and can safely store encrypted data such as private keys. Through Ledger Live, the supporting application of the hardware wallet, users can safely manage up to 1500 tokens.

Bitpie (https://bitpie.com/)

Bitpie is a multi-chain wallet that provides users with secure and private asset management, transaction and application services.

Cobo (https://cobo.com/)

Cobo is a professional online digital asset management wallet that supports both cloud wallet and HD wallet. Users can switch between the two wallets freely to meet different needs. Currently, it supports more than 30 blockchain assets including BTC , ETH , EOS, TRX, XRP, and more than 500 ERC20 tokens.

Coinomi(https://www.coinomi.com/)

Coinomi was founded in 2014 and has never been hacked so far, supporting more than 125 blockchains.

My Algo (https://wallet.myalgo.com/)

My Algo is an Algorand web wallet that uses a non-custodial security mechanism. It helps users directly interact with the Algorand blockchain, allowing users to not only store and encrypt private keys securely on the local browser, but also in the Ledger hardware wallet. Use a private key on it. MyAlgo supports multiple wallet applications, Algorand standard assets including USDT, and Algorand’s three major networks.

Trust Wallet(https://trustwallet.com/)

Trust Wallet is the official mobile wallet of Binance. It provides a safe and convenient option for users to deposit funds outside of the Binance platform. Multiple built-in functions further enrich the experience of using encrypted assets.

Exodus(https://www.exodus.com/)

Exodus is a cryptocurrency wallet with desktop, mobile and hardware versions. It supports sending, receiving, and exchanging more than 100 cryptocurrencies.

To pay

Mugglepay(https://mugglepay.com/)

MugglePay is a consumer-to-business (C2B) payment solution that enables instant and low-cost settlement worldwide through cryptocurrency .

Bleumi Pay (https://bleumi.com/index.html)

Bleumi is a blockchain technology company based in Boston that focuses on payment solutions that enable companies to adopt digital currencies in daily payments and other payment use cases.

Wyre(https://www.sendwyre.com/)

Wyre is an exchange that provides cryptocurrency to fiat currency exchange services and compliance solutions through APIs and dashboards.

Browser

Algoscan(https://algoscan.app/)

Algoscan is a blockchain search and analysis platform built on the Algorand network.

Algoexplorer (https://algoexplorer.io/)

Algoexplorer is a browser and API for Algorand blockchain.

SDK

Java (https://www.java.com/)

Java is an object-oriented programming language that can write cross-platform applications.

Javascript(https://www.javascript.com/)

JavaScript is a language based on prototypes and first-class functions. It is a multi-paradigm language that supports object-oriented programming, imperative programming, and functional programming.

Go(https://golang.org/)

Go is an open source programming language that can easily build simple, reliable, and efficient software.

Python(https://www.python.org/)

Python is an interpreted high-level general-purpose programming language. Its design philosophy emphasizes the readability of the code and uses a lot of indentation. Its language structure and object-oriented approach are designed to help programmers write clear and logical code for small and large projects.

other

AssetSmith(https://assetsmith.io/)

AssetSmith is a development tool created by the digital participation platform Jambb, allowing users to mint assets in a simple application, manage its distribution, and observe changes without the need for code. AssetSmith allows developers to create and send Algorand Standard Assets (ASA) with zero blockchain experience .

Pocket Network(https://www.pokt.network/)

Pocket Network is a decentralized infrastructure API built for Web3 applications.

PARSIQ (https://parsiq.net/zh/)

PARSIQ is a blockchain monitoring and workflow automation platform that connects on-chain and off-chain applications in real time to provide end users with transaction notifications. Through PARSIQ, users can connect blockchain activities with off-chain applications and devices, monitor and protect DeFi applications, and establish custom event triggers to provide power for real-time automation.

Dedit.io https://dedit.io/)

Dedit.io is a blockchain notarization platform.

Blockdaemon (https://blockdaemon.com/)

Blockdaemon is a blockchain infrastructure service provider that provides services such as node deployment and pledge, as well as enterprise-level security monitoring services. Blockdaemon supports more than 40 blockchain networks in the cloud and locally through the Blockdaemon Marketplace, including Ethereum 2.0, Bitcoin, Cardano, Polkadot , Cosmos, SKALE, MobileCoin, and Lightning Network.

Cooperative University

Massachusetts Institute of Technology (https://www.mit.edu/)

Massachusetts Institute of Technology is a private university located in Cambridge, Massachusetts. The Massachusetts Institute of Technology was established in 1861 and has since played a key role in the development of modern technology and science, and has been listed as one of the world’s top academic institutions.

University of California, Berkeley (https://www.berkeley.edu/)

The University of California, Berkeley is a world-renowned public research university located in Berkeley, San Francisco Bay Area, California, USA.

University of Waterloo (https://uwaterloo.ca/)

The University of Waterloo (University of Waterloo) is a medium-scale world-leading public research university. Founded in 1957, it is located in Waterloo, Southwestern Ontario, Canada . It is known for its cooperative education (CO-OP) that emphasizes both learning and internship .

Stony Brook University (https://www.s tonybrook.edu/)

Stony Brook University is a State University of New York established in 1957. It is located in Stony Brook, Suffolk County, East of Long Island, New York. One of the most public universities. Stony Brook University is one of the 62 members of the American Association of Universities (AAU), the authoritative nationwide . It ranks among the top 40 public research universities in the United States and is also among the top 1% of universities in the world.

Monash University (http://www.monash.edu.au)

Monash University is located in Melbourne, the center of Australian culture, art and industry. It is an internationally renowned public research university. It is a member of the Australian Eight Schools Alliance, the Pacific Rim University Alliance, and the International University Climate Alliance. It is a five-star university in Australia. The leading academic center in the Southern Hemisphere.

TiE(https://tie.org/)

TiE Global is a non-profit organization that has been committed to fostering entrepreneurship around the world since 1992. TiE strives to inspire entrepreneurs through mentoring, networking, education, incubation and funding projects and activities. TiE organizes nearly 2,000 events every year, bringing the entrepreneurial community together, learning from local leaders, and communicating with each other.

Other ecological projects

Industrial blockchain

Dust Identityhttps://dustidentity.com/)

DUST Identity is a supply chain solution that ensures that credible data and verifiable products are used and tracked throughout its life cycle, achieving end-to-end traceability. Dust Identity created the Diamond Unclonal Security Label (DUST) , which uses nano-engineered diamonds to create an unclonable identity layer on the object.

VeriTX(https://veritx.co/)

VeriTX is a digital commerce market for the purchase and sale of digital and physical assets. Its business is mainly concentrated in the aerospace and medical parts industries.

Digital identity management

AIKON (https://aikon.com/)

AIKON provides cross-chain authentication and wallet solutions.

FlexFinTx(https://flexfintx.com/)

FlexFinTx is an identity management platform that mainly helps Africans establish their own digital identities. Through FlexFinTx, financial institutions, insurance companies, medical institutions and other government departments can quickly access the personal information they need to provide services.

InfoCert(https://www.dizme.io/)

InfoCert provides services in digitization, electronic delivery, digital signature and digital preservation of documents through its DIZME platform. The company is the largest certification body in Europe, active in more than 20 countries, and is an AgID digital identity operator in the SPID (Public System for Digital Identity Management) field.

environment

Global Carbon Holding(https://globalcarbonholding.com/index.php)

Global Carbon Holding uses blockchain technology to tokenize carbon credit assets in Asia and supports the establishment of a global and transparent market to purchase certified carbon offsets. GCH holds certified carbon credits, which are registered with an internationally recognized entity and secured by personal tokens generated by the blockchain. The global carbon credit market last year exceeded 144 billion euros in trading volume, and the number of credit offsets being sold continues to grow at an exponential rate. GCH is committed to the development of carbon credit projects around the world and the entire renewable energy investment field.

ClimateTrade(https://climatetrade.com/)

ClimateTrade is a Spanish company whose main goal is to help companies achieve their sustainable development goals by offsetting carbon dioxide emissions and funding climate change projects. Carbon offset is an important balancing mechanism to protect our world’s environment, and ClimateTrade optimizes efficiency for companies to achieve carbon neutrality. The company allows users to enter a market where they can directly offset their carbon footprint by choosing the most appropriate carbon credits, while recording all their transactions on a private dashboard. It uses blockchain technology to ensure that carbon credits are cancelled in the corresponding registry and ensure that the funds promised for sales flow directly to the source of the project. ClimateTrade currently cooperates with more than 20 international companies and has more than 150 projects, including large enterprises such as Iberia, Melià Hotels, Cabify and Telefónica.

PlanetWatch(https://www.planetwatch.io/)

PlanetWatch conducts decentralized monitoring of air quality through IoT sensors, Algorand blockchain and the direct participation of the public.

other

Chainalysis https://www.chainalysis.com/)

Chainalysis is a blockchain data analysis company that provides blockchain data and analysis to government agencies, exchanges and financial institutions in more than 40 countries. Chainalysis’s compliance tools help reduce fraud, illegal darknet market activities, and attacks on the blockchain.

Verady (https://ledgible.io/)

Verady provides cryptocurrency taxation and accounting related functions through the Ledgible platform.

Voyager Digital(https://www.investvoyager.com/)

Voyager is a cryptocurrency broker, providing retail and institutional investors with a full range of solutions for trading cryptocurrencies. In addition to trading services, Voyager also provides products and services such as market data, interactive charts and professional research.

Cartan(https://www.cartan.group/)

Cartan is a financial technology management consulting company located in the Cayman Islands, helping clients identify, develop and implement complex market strategies.

FUB(https://www.fub.it/)

The Ugo-Bordoni Foundation (FUB) was established in 1952 and named after the engineering professor Hugo-Boldoni of the University of Rome. The foundation supports scientific research and application of telecommunications and information technology. FUB was established in the Ministry of Posts and Telecommunications and has a long history of research and application in the field of telecommunications. Through the interaction between basic research and applied research, FUB can combine research in the field of information and communication technology with the design and implementation of innovative services for government agencies, and determine national system policies in this field.

Attestiv (http s: //attestiv.com/)

Attestiv is a tamper-proof media verification platform and product provider in the fields of insurance, Internet of Things, public safety, financial services and news media. Established in 2018, Attestiv can verify the authenticity of digital media and data, help companies establish efficient processes, improve customer experience, and provide standards for information exchange.

Delchain (https://delchain.io/)

The services and products provided by Delchain include: private banking, digital asset custody, capital market (digital asset trading, market making, lending) , and token initial issuance consulting.

Mentat(https://ment.at/)

Mentat Innovations provides enterprises with a full range of artificial intelligence and blockchain solutions.

1World Online(https://welcome.1worldonline.com/)

1World Online is a blockchain-driven platform that unifies the value of data and advertising into an all-in-one participation-driven model. Through 1World Online, the website will have higher traffic indicators, the business team will be able to better understand and analyze the audience and make money, and editors and reporters will be able to obtain timely and high-quality news content to bring readers a better experience.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/from-breaking-through-the-impossible-triangle-to-creating-a-compliant-financial-public-chain-inventory-the-algorand-ecosystem-is-facing-difficulties/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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